Morning-Outlook-Feature-Image

Morning-outlook-5thmay

NIFTY:

Nifty opened at 17096.60 with a minor gap up of just 27 points. The index recorded its intraday high at 17132.85 and started drifting downwards.

Initially, the decline was slow and modest but as the rate hike news comes the downside momentum becomes very strong and the index moved down very sharply to record its intraday low at 16623.95.Minor rallies in between did not sustain long and prices kept on falling and finally closed at 16677.60 near its intraday lows with a loss of 391.50 pints or 2.29% down. All the sectoral indices have participated in the downside move and closed lower led by the MEDIA, METAL, and REALTY which ended more than 3% lower followed by the BANK, AUTO,PHARMA, and FINANC IAL which ended more than 2% lower.

The short-term trend changes to down which was sideways before. The support is now visible around 16500 while the previous support zo ne inside16900 – 17000 should now act as a resistance. The volatility index INOIA VIX rose today suggests volatility is increasing. The index needs to fall to around 15 -18 levels for stability in the market. As of now, we should not indulge ourselves in trading and avoid trading the index.

LIC-IPO-ELITE-WEALTH-LIMITED.

 

BANK NIFTY:

Bank Nifty opened at 36266.15 wit h a gap up of 138 points. The index did not sustain there and moved down after recording its intraday high at 36309.30. The decline continued for the whole day and minor rallies in between fizzled out quickly. The index recorded its intraday low at 35127.85 and finally closed at 35317.55 wit h a loss of821points.PVT and PSU BANKS both have performed almost the same today, saw a sharp intraday decline, and closed lower by 2.42%& 2.81% respectively. Within the index, in terms of points, KOTAK BANK contributed the highest while HDFC BANK contributed the lowest.

We have been tracking a trading range with support around 35500 and resistance around 37000.This range decisively broke on the downside giving us a pattern target of around 34000.This breakdown changes the short-term trend to down.

TECHNICAL PICKS

COMPANY NAME CMP B/S RATIONALE+
TATACHEM 1034 BUY The stock is on the verge of giving the breakout on the intraday as well as the daily chart. The stock can be buy  with a stop loss of 1025 and for the target of  1050.
NAUKRI 4225 SELL The  immediate trend of the script is bearish. There is a negative  cross over of moving averages  as well as of the indicators therefore  it can be sell below 4220 with a stop loss of 4260 and target of 4160.

DERIVATIVE PICKS

Stock Name Strike Price Buy/Sell CMP Initiation Stop Loss Target Remarks
BAJAJFIN 6000 PE BUY 105 CMP 85 150 OI Increase
Long Buildup Short Buildup
Stocks Price Price% OI % OI Stocks Price Price% OI % OI
TATACHEM.May 26 1039.25 0.07 3.37 6295000 NAUKRI.May 26 4222.6 -6.95 19.67 1581000
KOTAKBANK.May 26 1781.4 0.15 7.46 14497600 APLLTD.May 26 734.15 -6.78 14.34 1646400
LTI.May 26 4756.05 0.38 0.71 1660350 SRTRANSFIN.May 26 1150 -6.62 5.55 5366000
EXIDEIND.May 26 152.75 0.56 1.92 20210400 APOLLOHOSP.May 26 4027.75 -6.58 13.84 2185500
NTPC.May 26 158.95 0.82 3.16 67288500 VOLTAS.May 26 1142.1 -6.53 22.52 3705500
                                                                        Short Covering                                                                       Long Unwinding
HAL.May 26 1584.6 0.11 -0.13 2547425 CHAMBLFERT.May 26 448.5 -2.4 -0.98 2740500
GUJGASLTD.May 26 497.75 1.46 -8.34 3477500 NAVINFLUOR.May 26 3841.4 -2.36 -1.3 290475
ONGC.May 26 162.35 3.31 -1.45 49006650 NMDC.May 26 157.15 -2.33 -0.87 50082500
NAM-INDIA.May 26 305.8 -2.33 -1.21 3539200
BALRAMCHIN.May 26 439.2 -1.99 -0.47 6761600

TOP DELIVERY PERCENTAGE

Stocks Price %Chg Total Qty Delivery Del % % Change
Sectors Price Change % Quantity
Escorts India Ltd. 1565 -0.76 355165 0 72.94 Nifty50 16661.85 -2.39 69909
Infosys Limited 1532.6 -0.55 6010655 0 71.72 Nifty100 16991.25 -2.46 69909
Crompton Greaves Consume 368.75 -2.59 1719152 0 70.79 Nifty it 30778.1 -1.16 69909
Page Industries Limited 45367 -0.5 22647 0 70.25 India Vix 21.83 7.64 69906
Siemens Ltd 2199.65 -2.11 352638 0 68.5 Nifty Fmcg 37608.1 -1.77 69909
Bharti Airtel Limited 722.05 -2.6 6498110 0 66.11 Nifty Pharma 13101.95 -2.66 69909
Aarti Industries Ltd. 833.25 -1.7 635640 0 64.8 Nifty Realty 430.9 -3.1 69909
Honeywell Auto India Ltd 39162.95 -2.82 1940 0 64.76 Nifty Auto 10664.45 -2.5 69909
Tata Consultancy Serv Lt 3475.2 -1.9 2226101 0 63.27 Nifty Metal 6151.75 -3.32 69909
Oil & Natural Gas Corp 161.85 3.52 22976377 0 62.99 Nifty Financial Services 16230.35 -2.65 69909

UPCOMING ECONOMIC DATA

   Domestic                                                                                                                                                  International
INR: Nikkei Services PMI (Apr) on 5th May, 2022 •USD: Initial Jobless Claims on 5th May 2022

•USD: OPEC Meeting on 5th May, 2022

NEWS UPDATES

  • The Reserve Bank of India (RBI) announcing on Wednesday an out-of-policy hike in repo rate by 40 basis points (bps) to 4.4 per cent with immediate effect and a 50 bps hike in the cash reserve ratio (CRR) to 4.5 per cent took the markets by surprise, said analysts, who expected the central bank to hike rates only in June. “The hike in rates, though was expected, was only likely to come through in the June policy review. The quantum of hike (40 bps) in this out-of-turn announcement was also a surprise as the markets expected the RBI to hike by 25 bps. Going ahead, the indexes will take cues from what the US Fed and the other global central banks do to tame inflation.

  • Kotak Mahindra Bank reported a 50 per cent year-on-year (YoY) jump in consolidated net profit in the Q4FY22. Net profit totalled Rs 3,892 crore in Q4FY22 versus Rs 2,589 crore in the same period last year. On a full year basis (FY22), the consolidated net profit was up 21 per cent at Rs 12,089 crore, over the previous year. On a standalone basis, which represents the banking operations, the lender’s net profit was up 65 per cent YoY at Rs 2,767 crore in Q4FY22, beating Street estimates, as it wrote back Covid-19 provisions amounting to Rs 453 crore in the quarter.

  • Agro-chemicals major UPL on Wednesday said it has acquired a naturally-derived fungicide, OptiCHOS, for its natural plant protection (NPP) business unit. The NPP portfolio houses natural and biologically derived agricultural inputs and technologies, UPL said in a BSE filing. The active ingredients of OptiCHOS were developed from the chitin-rich by-products of the shellfish industry by BioCHOS, a spin-off of the Norwegian University of Life Sciences.

Source: Economic Times,  Indian Express  ,Business Today, Livemint, Business Standard, Bloomberg Quint

BOARD MEETINGS

Company Name Purpose Ex-Date Company Name Purpose Ex-Date
7NR Audited Results 05-May-22 INTELLECT Audited Results 05-May-22
ADANIPOWER Audited Results 05-May-22 JTLINFRA Preferential Issue of shares 05-May-22
ADANITRANS Audited Results 05-May-22 MARICO Audited Results 05-May-22
ADITYA General 05-May-22 MMTC Quarterly Results 05-May-22
ALEMBICLTD Audited Results;Dividend;General 05-May-22 MOREPENLAB Audited Results 05-May-22
ANDHRAPAP Audited Results;Final Dividend 05-May-22 NICCOUCO Audited Results;Quarterly Results 05-May-22
BLUEDART Audited Results;Final Dividend 05-May-22 PACL Audited Results;Quarterly Results 05-May-22
BLUESTARCO Audited Results;Final Dividend 05-May-22 PGHL Interim Dividend;Quarterly Results 05-May-22
BORORENEW Audited Results;Quarterly Results 05-May-22 PNBGILTS Audited Results;Final Dividend 05-May-22
CAMS Audited Results;Final Dividend 05-May-22 PRIVISCL Audited Results;Final Dividend;General 05-May-22
CEATLTD Audited Results;Final Dividend 05-May-22 PUNJABCHEM Audited Results;Final Dividend 05-May-22
CHOLAFIN Audited Results;Final Dividend;General 05-May-22 QUICKHEAL Audited Results;Final Dividend 05-May-22
DABUR Final Dividend;Quarterly Results 05-May-22 RGL Stock  Split 05-May-22
DCMSHRIRAM Audited Results;Dividend 05-May-22 SONACOMS Final Dividend;Quarterly Results 05-May-22
EXIDEIND Audited Results 05-May-22 STCORP A.G.M. 05-May-22
FSL Audited Results;Quarterly Results 05-May-22 TBZ Audited Results;Final Dividend;General 05-May-22
HAPPSTMNDS Audited Results;Final Dividend;General 05-May-22 TVSMOTOR Audited Results 05-May-22
INDUSTOWER Audited Results 05-May-22 VOLTAS Final Dividend;Quarterly Results 05-May-22

CORPORATE ACTION

Company Name Ex-Date Purpose Company Name Ex-Date Purpose
COLPAL 05-May-22 Interim Dividend – Rs. – 21.0000 EMBASSY 06-May-22 Income Distribution RITES
SARDAEN 05-May-22 Interim Dividend – Rs. – 7.5000 MAHSHRE 06-May-22 E.G.M.
SARDAEN 05-May-22 Buy Back of Shares NCLRESE 06-May-22 Right Issue of Equity Shares
CRISIL 06-May-22 Interim Dividend – Rs. – 7.0000 TREEHOUSE 06-May-22 E.G.M.

 

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